The RBI had cancelled the registration of close to 1,500 NBFCs in the past two years till December 2018. Out of 1,500 NBFCs, as many as 1,300 were blocked from plying operations in the first half of this fiscal alone, a senior government official told earlier.

The number of NBFCs registered with the RBI was reduced to 10,102 as of September 30, 2018, from 11,400 at the end of March last year.

“These cancellations were done due to a number of factors, including non-compliance with mandatory requirements like minimum net-owned fund of Rs 2 crore, non-submission of statutory returns, not being traced at the given address, etc. In a few cases, NBFCs have even voluntarily surrendered their certificate of registration,” said the official, citing inputs from the RBI that were meant for a reply in Parliament.